Decision

The Leader - Portfolio Holder Strategy, Performance & Finance has decided to buy out a rent share agreement from Blueprint to maximize financial benefit from the site.

Analysis

outcome: The portfolio holder approved the buyout of the rent share agreement from Blueprint, with a budget of up to £132,000 funded from the Change Management Reserve.

summary: The decision involves buying out a rent share agreement from Blueprint at a cost of £120,000 up to a maximum of £132,000 to maximize financial benefit from the site.

topline: The Leader - Portfolio Holder Strategy, Performance & Finance has decided to buy out a rent share agreement from Blueprint to maximize financial benefit from the site.

reason_contentious: This issue may be contentious as it involves financial decisions and negotiations with a third party, potentially impacting stakeholders and the local community.

affected_stakeholders: ["Council", "Blueprint", "Local community"]

contentiousness_score: 6

political_party_relevance: There are no explicit mentions of political parties or political influence on the decision.

URL: https://democracy.newark-sherwooddc.gov.uk/ieDecisionDetails.aspx?ID=1046

Decision Maker: Leader - Portfolio Holder Strategy, Performance & Finance

Outcome:

Is Key Decision?: No

Is Callable In?: Yes

Purpose: That the portfolio holder approves: ·       The principal of buying out the rent share agreement from Blueprint at the cost of £120,000 up to a maximum of £132,000 (including a 10% contingency) as this represents the maximum financial benefit from the site; ·       A Revenue budget of up to £132,000 to be funded from the Change Management Reserve; and Delegated authority for the Section 151, Deputy Chief Executive & Director of Resource to negotiate the payment between the values above.

Content: That the portfolio holder approves: ·       The principal of buying out the rent share agreement from Blueprint at the cost of £120,000 up to a maximum of £132,000 (including a 10% contingency) as this represents the maximum financial benefit from the site; ·       A Revenue budget of up to £132,000 to be funded from the Change Management Reserve; and Delegated authority for the Section 151, Deputy Chief Executive & Director of Resource to negotiate the payment between the values above. The buy out enables the Council to receive the maximum renveue from the site. It would see the termination of our agreement with Blueprint which is in perpetuity. To carry on paying the rent share to Blueprint. This would remove the requirement for the Capital cost. Below is an estimate of rent to be shared over the next 12 years, please note the agreement is in perpetuity.  

Date of Decision: June 18, 2025